Legacy Planning: Why It Matters More Than You Think
Legacy Planning is more than just asset distribution; it's about providing your family clarity, comfort, and confidence during challenging times. Whether you're building your wealth or just beginning your financial journey, understanding Legacy Planning helps you protect valued possessions and ensure your wishes are respected without confusion. 1. What Is Legacy Planning and Why Is It Important? Legacy planning is a thought process that helps you decide how to transfer money, responsibilities, and personal values. It is designed to prevent uncertainty among loved ones by creating a clear and organised plan. It reduces legal complications and emotional stress, ensuring that future decisions reflect the individual’s intentions rather than assumptions. Most importantly, it gives you control over how your legacy is managed after you passed on. 2. Key Components You Should Include in a Legacy Plan A robust legacy plan encompasses several components beyond a simple document: A Wil...